Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.20.2
Commitments and Contingencies
 9 Months Ended
Sep. 26, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Product Warranties

The following activity related to product warranty liabilities was recorded in Accrued expenses during the nine months ended September 26, 2020 and September 28, 2019:
(in millions) September 26,
2020		 September 28,
2019
Balance at beginning of period $ 117.6  $ 116.8 
Payments - Recurring (37.6) (43.6)
Payments - Sport Yacht and Yachts and Fitness businesses (4.4) (10.2)
Provisions/additions for contracts issued/sold 41.2  44.7 
Aggregate changes for preexisting warranties (2.0) 2.3 
Foreign currency translation (0.1) (0.4)
Other (A)
(1.8) 7.0 
Balance at end of period $ 112.9  $ 116.6 

(A) The Company retained a $7.1 million warranty liability from the sale of its Fitness business in 2019. The warranty liability pertains to product field campaigns for certain Cybex products designed prior to the Cybex acquisition. The Company recorded $(1.8) million of true ups as of September 26, 2020.

Extended Product Warranties

The following activity related to deferred revenue for extended product warranty contracts was recorded in Accrued expenses and Other long-term liabilities during the nine months ended September 26, 2020 and September 28, 2019:
(in millions) September 26,
2020		 September 28,
2019
Balance at beginning of period $ 75.3  $ 66.4 
Extended warranty contracts sold 23.7  20.4 
Revenue recognized on existing extended warranty contracts (12.5) (11.1)
Foreign currency translation (0.1) 0.1 
Other (0.2) (0.3)
Balance at end of period $ 86.2  $ 75.5